GAMMA Investing LLC Acquires 6,309 Shares of ConocoPhillips $COP

Key Points

• GAMMA Investing LLC has increased its holdings in ConocoPhillips by 22.4%, owning a total of 34,534 shares valued at approximately $3.1 million.
• ConocoPhillips recently declared a quarterly dividend of $0.78, which translates to an annualized dividend of $3.12 and a yield of 3.4%.
• The company's latest earnings report revealed a profit of $1.42 per share, exceeding the consensus estimate, with revenues up 4.3% year-over-year at $14.94 billion.

GAMMA Investing LLC lifted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 22.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,534 shares of the energy producer's stock after purchasing an additional 6,309 shares during the quarter. GAMMA Investing LLC's holdings in ConocoPhillips were worth $3,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Financial Network Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Garde Capital Inc. purchased a new position in ConocoPhillips in the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the first quarter worth $37,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock valued at $38,000 after acquiring an additional 293 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of COP traded up $0.19 during mid-day trading on Monday, reaching $92.11. 5,797,888 shares of the company's stock traded hands, compared to its average volume of 6,350,395. The business's 50-day moving average price is $94.55 and its 200-day moving average price is $92.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a market capitalization of $115.04 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.69. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the prior year, the company earned $1.98 EPS. The firm's quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, August 18th. ConocoPhillips's payout ratio is 41.88%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on COP shares. Mizuho cut their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Piper Sandler raised their target price on ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Royal Bank Of Canada cut their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a report on Friday, July 11th. Scotiabank increased their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Finally, Citigroup dropped their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $120.14.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.